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Gold Weekly Snapshot, Nov 6, 2023

Gold Prices hold at three-month high as weaker U.S dollar and lower treasury yields boost appeal for the metal.

  • December Gold prices extended rally for fourth straight week closing at $1,999 per ounce or 0.04%
  • Week on-Week Open Interest increased by 13,181 lots or 1.3 M ounces.
  • Money managers increased their net-long posiIons for a third straight week by 19,092 contracts to 75K lots (a 3-month high).
  • Gold options are tentaIvely pricing in a smaller risk of escalaIon in the Middle East as the metal skew recedes from a 7-month high.

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